Exam #1 Review

September 11, 2013 at 7:29 pm  •  Posted in busad265 by  •  1 Comment

For Exam 1 you need to be prepared to answer questions on the following topics:

Chapter 1

  • Define and differentiate between PopulationCensusSample
  • Define and differentiate between Descriptive Statistics and Inferential Statistics
  • Understand levels of data: NominalOrdinalInterval, and Ratio

Chapter 2

  • Define and differentiate between Frequency distributionRelative frequency, and Cumulative frequency
  • Understand approaches for determining Class Intervals (also referred to as “Bins” in a histogram)
  • Calculate Class midpoints and use to construct Frequency Polygons
  • Construct frequency distribution tables and produce Histograms
  • Calculate Cumulative Frequency and produce an Ogive
  • Understand appropriate use and how to produce stem-and-leaf plots, pie chartsPareto charts and scatter plots.

Chapter 3

  • Define and calculate Mode, Median, Mean
  • Understand Percentile and Quartile
  • Define and calculate Range, MAD, Variance and Standard Deviation
  • Define and understand how to apply the Empirical Rule

The test format may include True/False, Multiple Choice, and Short Answer questions as you’ve seen on Quizzes. In addition, you should prepare for questions requiring Numerical Calculation, Short Essay, Case Study with business decision interpretation and production of Charts or Graphs similar to what’s been on the Exercises (but without any need for a laptop or other computing device).

Feel free to post questions here and I will do my best to answer in advance or during class Thursday.

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